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Incomplete Contracts And The External Organization Of Firms
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Book Synopsis Incomplete Contracts and the External Organization of Firms by : Philippe Aghion
Download or read book Incomplete Contracts and the External Organization of Firms written by Philippe Aghion and published by . This book was released on 2013 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Impact of Incomplete Contracts on Economics by : Philippe Aghion
Download or read book The Impact of Incomplete Contracts on Economics written by Philippe Aghion and published by Oxford University Press. This book was released on 2015-12-22 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1986 article by Sanford J. Grossman and Oliver D. Hart titled "A Theory of Vertical and Lateral Integration" has provided a framework for understanding how firm boundaries are defined and how they affect economic performance. The property rights approach has provided a formal way to introduce incomplete contracting ideas into economic modeling. The Impact of Incomplete Contracts on Economics collects papers and opinion pieces on the impact that this property right approach to the firm has had on the economics profession.
Book Synopsis Incomplete Contracts and the Internal Organisation of Firms by :
Download or read book Incomplete Contracts and the Internal Organisation of Firms written by and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Firms, Incomplete Contracts and Organizational Learning by : Nicolai J. Foss
Download or read book Firms, Incomplete Contracts and Organizational Learning written by Nicolai J. Foss and published by . This book was released on 1996 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Incomplete Contracts and Industrial Organization by : Gene M. Grossman
Download or read book Incomplete Contracts and Industrial Organization written by Gene M. Grossman and published by . This book was released on 1999 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Insomplete Contracts and Economic Organization by : Nicolai J. Foss
Download or read book Insomplete Contracts and Economic Organization written by Nicolai J. Foss and published by . This book was released on 1997 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Analysis of Cooperation Inside and Outside Firms Under Incomplete Contracts and Specific Investments by : Paula Andrea Cohen
Download or read book An Analysis of Cooperation Inside and Outside Firms Under Incomplete Contracts and Specific Investments written by Paula Andrea Cohen and published by . This book was released on 2009 with total page 107 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Firm as a Nexus of Treaties by : Masahiko Aoki
Download or read book The Firm as a Nexus of Treaties written by Masahiko Aoki and published by Sage Publications (CA). This book was released on 1990 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading experts on the theory of the firm advance a new approach to understanding the nature of the firm, and open up the prospect of a new interdisciplinary "science of organization".
Book Synopsis INCOMPLETE CONTRACTS AND THE THEORY OF THE FIRM by : Oliver Simon D'Arcy HART
Download or read book INCOMPLETE CONTRACTS AND THE THEORY OF THE FIRM written by Oliver Simon D'Arcy HART and published by . This book was released on 1987 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Incomplete Contracts, Market Competition and Investment Decisions by : Antonio Nicita
Download or read book Incomplete Contracts, Market Competition and Investment Decisions written by Antonio Nicita and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies a two stage incomplete contract between a buyer and a seller, with specific investments and endogenous outside options. Given that a party's outside option identifies counterpart's competitors, with such endogenous outside options, some of the main conclusions of the standard literature on hold-up in incomplete contracts--which generally assume exogenous outside options--might be reversed. First, according to the degree of ex-post market competition induced by the type (specific or general-purpose) of investment made, each agent might reach a monopolistic position by deterring his competitors and/or by encouraging contractual counterpart's competitors; second, even in an incomplete contract, agents may both overinvest in assets' specificity and use specific investments as a strategic discipline device in order to deter counterpart's post-contractual opportunism. The resulting complex institutional context, coined as cross competition, provides an explanation of the nature of the firm along the original intuitions of J.R. Commons and R. Coase. We suggest that firm organisation introduces appropriate forms of pre-commitment on the agents' behaviours by introducing some form of outside options' rigidity so as to transform multilateral market cross competition into a network of bilateral cross competition relationships between management and the workers, within the firm.
Book Synopsis Choice, Complexity and Ignorance by : Brian J. Loasby
Download or read book Choice, Complexity and Ignorance written by Brian J. Loasby and published by CUP Archive. This book was released on 1976-04-15 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Incomplete Contracts and Firm Boundaries by : Wouter Dessein
Download or read book Incomplete Contracts and Firm Boundaries written by Wouter Dessein and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The seminal work by Grossman and Hart (1986) made the study of firm boundaries susceptible to formal economic analysis, and illuminated an important role for markets in providing incentives. In this essay, I discuss some new directions that the literature has taken since. As a central challenge, I identify the need to provide a formal theory of the firm in which managerial direction and bureaucratic decision-making play a key role. Merging a number of existing incomplete contracting models, I propose two approaches with very different contracting assumptions. As in transaction cost economics, a central element in those theories is the presence of a central office who directs and coordinates the actions of subordinates. More novel, I highlight the superior ability of non-integrated firms to adapt to a changing environment.
Book Synopsis Incomplete Contracts and Industrial Organization by : Patrick Legros
Download or read book Incomplete Contracts and Industrial Organization written by Patrick Legros and published by . This book was released on 2011 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis More is Less by : Maija Halonen-Akatwijuka
Download or read book More is Less written by Maija Halonen-Akatwijuka and published by Cambridge University Press. This book was released on 2024-05-23 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why are contracts incomplete? Transaction costs and bounded rationality cannot be a total explanation since states of the world are often describable, foreseeable, and yet are not mentioned in a contract. Asymmetric information theories also have limitations. We offer an explanation based on 'contracts as reference points'. Including a contingency of the form, 'The buyer will require a good in event E', has a benefit and a cost. The benefit is that if E occurs there is less to argue about; the cost is that the additional reference point provided by the outcome in E can hinder (re)negotiation in states outside E. We show that if parties agree about a reasonable division of surplus, an incomplete contract is strictly superior to a contingent contract. If parties have different views about the division of surplus, an incomplete contract can be superior if including a contingency would lead to divergent reference points.
Book Synopsis Incomplete Contracts by : Sarath Sanga
Download or read book Incomplete Contracts written by Sarath Sanga and published by . This book was released on 2018 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The strategic ambiguity hypothesis posits that when some aspects of performance are observable but not verifiable, the optimal contract is deliberately incomplete. I test this result for the first time. Because a direct test is infeasible, I derive an equivalent result: incompleteness is optimal when some terms are legally void. Using executive contracts from S&P 500 firms, I find that firms pay severance in discretionary installments to induce their executives to comply with noncompete agreements -- but only in California, where noncompetes are void. Outside California, noncompetes are valid and these same firms pay non-discretionary severance upfront. I conclude that firms use strategic ambiguity to circumvent legal constraints.
Book Synopsis Organization and Economic Behavior by : Anna Grandori
Download or read book Organization and Economic Behavior written by Anna Grandori and published by Psychology Press. This book was released on 2001 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents all the basic elements of organizational theory and behaviour. Different approaches are analysed, with a strong focus on intergrating sociological, psychological and economic contributors to the subject.
Book Synopsis Handbook of Economic Organization by : Anna Grandori
Download or read book Handbook of Economic Organization written by Anna Grandori and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 641 pages. Available in PDF, EPUB and Kindle. Book excerpt: ÔThis excellent volume brings together some of the most interesting writings on economic organization. It covers a vast range of topics that fall under the heading of economic organization, and most if not all aspects of a variety of organizational economics and organization theories are presented. Interestingly, this book also extends beyond the more traditional approaches informed by economics and organization theory as it broadens the horizon of the field by including relevant contributions from economic sociology, cognitive psychology, law, and strategic management. Given its breadth and depth, this volume will become one of the standard reference books that will inspire both theoretical and empirical research.Õ Ð John Hagedoorn, Maastricht University, The Netherlands ÔThis important new Handbook of Economic Organization is a highly successful attempt to integrate economic and organization theory. Anna Grandori, who is herself a leading scholar located at the boundaries of economics and organization theory, is to be congratulated on doing a superb job bringing together such a high profile group of internationally acknowledged scholars. Each of the essays in the book are original and contribute to demonstrating the valuable insights that economics can make to our understanding of organization and organizational design. Anna GrandoriÕs introductory and concluding chapters are not only excellent audits of the current state of our knowledge in this field but they also give a strong sense of direction for the possible futures of the discipline. Anna Grandori is not afraid to face head on some of the more philosophical issues relating to ÒorganizationÓ as an object of study and is to be commended for doing so. The economics of organization is a new, exciting and developing field and the essays in this book will help to shape the research agenda that will take this emergent discipline to its next stage.Õ Ð Peter M. Jackson, University of Leicester, UK ÔThis sweeping, comprehensive volume is a signal effort in building bridges between economics and organization theory. With a stellar cast of contributors, it will both inspire and provoke scholars with its grand amibitions, and generate considerable attention and debate. A remarkable effort by Anna Grandori.Õ Ð Walter W. Powell, Stanford University, US ÔAnna Grandori has astutely organized the commissioned chapters of an intellectually diverse set of scholars into an absolutely outstanding contribution that both defines the current state of organizational economics and points the perceptive reader toward an exciting intellectual future. From traditional research areas to the newest topics of interest, the chapters chart the current boundaries of the field. The chapters are filled with gems of insight across several distinct levels of analysis, whether it is a discussion of organizational design, or psychological economics or innovation or the organization as language, the discussions are contemporary, comprehensive and challenging. No serious scholar of organizational economics should be without this book.Õ Ð Richard N. Osborn, Wayne State University, US This comprehensive and groundbreaking Handbook integrates economic and organization theories to help elucidate the design and evolution of economic organization. Economic organization is regarded both as a subject of inquiry and as an emerging disciplinary field in its own right, integrating insights from economics, organization theory, strategy and management, economic sociology and cognitive psychology. The contributors, who share this integrated approach, are distinguished scholars at the productive peak in their fields. Each original, state-of-the art chapter not only addresses foundational issues, but also identifies key issues for future research. This original and wide-ranging Handbook will be a useful and thought-provoking read for academics, students and researchers in the fields of organization, management and economics.